Chinese Premier Li Keqiang has encouraged enterprises in both China and India to tap the potentials of each other’s markets and seize investment opportunities.

The premier was in the Indian industrial capital of Mumbai yesterday addressing the China-India Business Cooperation Summit.

Mr Li said the deepened cooperation and common development of China and India, the world’s two biggest developing countries, will create an incredible impetus to the world.

“The biggest stage for China-India cooperation is in the economy, the greatest potential is in the market, and the major players are the enterprises,” said the premier.

“The enterprises of both countries hold the key to expanding two-way trade and mutual investment,” he stressed.

Mr Li said the relevant ministries will soon be busy negotiating and making plans to create a fair and just environment for businesses from both countries to exploit each other’s markets and expand mutual investment.

Healthcare and IT are among the priorities of the reform agenda for the new Chinese administration, according to a top Chinese economist.

57 founding members, many of them prominent US allies, will sign into creation the China-led Asian Infrastructure Investment Bank on Monday, the first major global financial instrument independent from the Bretton Woods system.

Representatives of the countries will meet in Beijing on Monday to sign an agreement of the bank, the Chinese Foreign Ministry said on Thursday. All the five BRICS countries are also joining the new infrastructure investment bank.

The agreement on the $100 billion AIIB will then have to be ratified by the parliaments of the founding members, Chinese Foreign Ministry spokesman Lu Kang said at a daily press briefing in Beijing.

The AIIB is also the first major multilateral development bank in a generation that provides an avenue for China to strengthen its presence in the world’s fastest-growing region.